After leaving home and encountering the big bad world of rental agreements and security deposits, money has become an obsession on campus. We all do it — search through every jean pocket, every jacket and every purse to pool all of the change we possess to pay for the Chipotle we are craving or that caffeine kick from Starbucks.

However, more and more students are resorting to another means of paying for what they want and "need" now — credit cards. Recently, a University of Arkansas study reported that around 70 percent of college students have at least one credit card.

At the beginning of each school year, we see them — the credit card companies. They sit on the corner of University Avenue and Park Street offering T-shirts as rewards for signing up for the latest "student-friendly" credit card. On those hot September days, they sit in front of enticing store fronts like Cold Stone Creamery hoping the craving for ice cream will be enough for a student to acquire another card.

From my observations, students sign up for the cards, forget about them by the next "Thirsty Thursday," and only remember when they receive the cards in the mail. And that is when the credit card companies really ensnare the students. A balance of $500? A line of $1,000 credit? You can buy what you want now and pay much later. What an excellent system.

If only that were the case. Students seem to forget about a little thing called an interest rate. It would take a student more than 12 years to pay off a $1,000 bill making a minimum payment every month with an 18 percent interest rate.

Part of the problem is that there is no "Life 101" class students can sign up for. Unless parents deemed it necessary to teach their children fiscal responsibility or even how to balance a checkbook, this is not common knowledge. I know that I cringe every time I see the credit card sharks out and about on State Street, but many of my peers jump at the chance for free Subway or Domino's.

According to the Public Interest Research Group's "Student Credit Card Trap" study, students who sign up for credit cards at tables around their campuses are much more likely to have higher unpaid balances than those who received credit cards from a bank or other means.

It is kind of embarrassing how quickly students get swept up into the credit card scene. After signing up with a bank here on campus, I received a credit card with a line of credit. I hid it from myself, and I hope to find it in among my possessions by the time I graduate. I did not trust myself with the purchasing power of the card, and feel as though I have good reason for this distrust.

According to Nellie Mae, the largest student loan distributor in the nation, "the average student has $2,200 in credit card debt." Since most student cards, at least initially, only carry maximum balances of around $500, this means students are maxing out on multiple cards and cannot pay their bills in full.

This statistic is embarassing. Blame it on the material culture of America, if you must, but it is absolutely ridiculous and appalling that students are accruing this kind of debt. Luxury items such as a new dress at Urban Outfitters or pair of boots from Up Boutique are not worth ruining your credit before you have your bachelor's degree.

According to Robert Manning, a sociologist at Georgetown University who has been studying credit card debt, card abuse "now poses a greater threat than alcohol or sexually transmitted diseases."

MasterCard poses more of a threat than gonorrhea? Who knew?

In order to solve a problem that has continued to escalate, I have two proposals. Students need to be required to take a Money Management or Consumer Science course before they can acquire a card. Or, to piggyback on the idea of Stephen Brobeck, the executive director of the Consumer Federation, a law should be passed requiring those under the age of 21 to have parental permission or prove he or she has an income.

Yes, it seems dramatic, but this may just be what college students need.

Hannah Karns ([email protected]) is a sophomore majoring in political science and international studies.